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Chobani Inc. -- Marketing Management

Marketing Capstone
by

Taylor Alan

on 28 November 2012

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Transcript of Chobani Inc. -- Marketing Management

Chobani's Background New Product Extension Current Competitors Marketing Mix SWOT Analysis The 4 P's All images from https://chobani.com/products Taylor Freeman, Tyler Gibson, Willem Gonzalez, Paige Johnson, Priscilla Treto Product Line Extension Founded in 2005 by Hamdi Ulukaya
First cup of yogurt hit store shelves in 2007
Straining process produces creamy yogurt that is high in protein
Made from non-rBST milk
Contains live and active cultures
Currently #1 selling Greek yogurt brand in America Introduction: Chobani Greek Yogurt Chobani carries multiple types of grek yogurt:
Chobani Classics
Non-Fat
Low-Fat (2%)
Other Chobani Products
Blended
Flip
Champion Introduction: Original Chobani Greek Yogurt Goals & Objectives Target Market Integration of Strategy Research Findings Yoplait Dannon Fage Chobani's Potential Customers Potential prospects are already in the market for yogurt, According to Euromonitor: 55% of new users come from existing yogurt shoppers who are buying more yogurts, and allocating to Greek
32% of existing yogurt shoppers are buying the same amount of yogurt, but switching to Greek
Only 8% of new users come from new yogurt shoppers Strengths Chobani is number one in Greek yogurt market share
Lead the industry in share of voice
Successful new product launch for specific demographic; Chobani Champions Opportunities Consumers in general are becoming more health and environmentally conscious
Consumers expect companies to be environmentally responsible and sustainable Weaknesses Consumers are predominately females
Lack of “green responsible” image
Chobani has no relationships that promote corporate responsibility
Price of Chobani is higher than other competitors Threats Dannon has grown its market share by 3% over one period
Intense competition in the yogurt industry for market share
Threatening congress bill to raise the price milk and milk-based products Product Description Product-Company/Brand Fit Product-Market/Industry Fit Product Price Place (Distribution) Promotions Primary Research: Surveys Positioning: For active men aged 25- 45 who seek a healthy lifestyle, Chobani Pro provides more protein than any other brand as it contains 25 grams of protein per serving Young Digerati
Up-and-Comers Sex: Males
Age: 25 - 45
Education Level: Graduates & Post-Graduates
Status: Recently married or with Young/Family mix
Geographic: Live in urban areas and 2ND cities Lifestyle Demographics Characteristics Active lifestyles
Watching their waistline
Karate classes
Listen to Pandora
Read Men's Health Magazine VALS Achievers
Innovators Robo-Corp Marketing Team Created by: Paige Johnson, Priscilla Treto, Taylor Freeman, Tyler Gibson & Willem Gonzalez A male oriented Greek yogurt, called Chobani Pro
Contains more protein than other yogurts
Simplistic package with a few new flavors In 3rd, with 5.7% market share of Greek yogurt
26.7% market share in regular yogurt
Initial Greek formula failed to meet consumers needs, re-launch in 2011 with TV personality -- Maria Menounos
Currently running marketing program with the agency Saatchi & Saatchi. Chobani's largest competitor, with 19% market share of Greek yogurt in the US
Non-greek yogurts count for 80% of total yogurt volume sold
Recently ran a Super Bowl ad featuring actor John Stamos
Dannon markets 3 types of Greek yogurt:
Dannon Oikos
Organic line, Stonyfield
Low fat Organic Greek yogurt In 2nd, with 14% of the US Greek yogurt market
Longest established Greek yogurt in the US, known as the best tasting 'Premier' Greek yogurt
Currently sells Greek yogurt in the UK, Greece, Italy, the US and 25 other countries
They sponsor their 3 differnt lines: Fage Total Classis, Fage Total 2%, & Fage Total 0, through spokesperson Bobby Flay Performance Features & Benefits Packaging Assortments/Variants Complementary Products Customer Service Strategy Brand Elements Objectives & Strategies Discounts/
Markdowns/
Coupons Integrated Marketing Communication Objectives Establish brand awareness of Chobani Pro
Increase awareness of “Chobani Pro” by 40%
We will conduct interviews 6 months into product launch and in the last month of our launch year.
Enhance consumer perceptions of the fact that Chobani Pro is the premium source for “High Protein Greek Yogurt”
Establish in our advertisement, that Chobani Pro Greek Yogurt has the Most Protein per serving of any Greek Yogurt on the market.
Focus are Billboard advertisement in the east and top 10 DMAs. Marketing Objectives Generate 70 million of sales for the Chobani Pro Line Extension in launch year.
Increase market share of Choabni Greek Yogurt by 3%. New Greek Yogurt Market share will be 51%
Have profits of at least 30 million for the Chobani Pro Line Extension in launch year. Profit will be calculated off total sales and total Budget. Chobani is known for being a low-fat, high in protein food By increasing protein content in Chobani Pro, the appearance will be more masculine and penetrate the male market
Chobani's Champion has already penetrated another demographic, previous success Retain all the attributes that has made Chobani successful, only increasing protein content
R&D cost for the new product will be counterbalanced by exponential growth in the industry 25g of protein per 6.5oz serving
all natural ingredients Sizes: 6.5oz, 16oz, & 32oz
6 pack of 6.5oz
Flavors: Plain, Honey, Apple, Cinnamon, Vanilla, Blueberry, and Apple Pie Granola
Fruit
Cereal
Snack bars
Protein Powder
Nuts Start out with premium prices
recoup R&D cost
allow for price drops in future
signify a premium product
Price Ceiling: $2.00
Initial Pricing
$1.75 -- 6.5oz
$3.50 -- 16oz
$6.50 -- 32 oz Offer pricing discounts for channels that want to buy in bulk for us.
We will lower the price to 1.40 per 6.5oz container.
We will offer 3 coupons for Chobani Pro. They will be:
buy one get one free
50 cents off
free Chobani Pro with the purchase of 2 two regular Chobani products. Maintain all channels of distribution that Chobani already has, important vendors would be:
Wal-Mart
Sam's & Costco
Kroger, HEB, & Albertson's
Venture into Fitness centers:
Gold's Gym
Lifetime Fitness Public Relations Creative & Internet Sales Promotions Advertisements Facebook Billboards Radio Ad/Pandora Magazine Announcer: After a workout it is recommended that you consume protein to help your muscles rebuild and recover. Chobani Pro Greek Yogurt contains the 25g of protein per serving the most protein of any Yogurt on the market. Chobani Pro is the Premium Source for High Protein Greek Yogurt for men (emphasis on men) who live an active and healthy Lifestyle. Men's Health, ESPN, & Men's Fitness Banner Ads Sponsor Crossfit Events
New York City Marathon
Trip to the March Madness
Samples
Coupons Prostate Cancer Support
Wounded Warriors Support Homepage
Youtube -- "Get Fit with Bill"
Facebook
Twitter/Hashtaging Price ceiling was $2.00 for a 6.5oz cup.
Men ate greek yogurt because of their diet.
Chobani was purchased most because of protein content.
Open-ended responses gave suggestions for a Men's yogurt with added protein. Budget Schedule Media Budget http://www.dropmocks.com/mBnGMF Profit Calculations: 0
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